More mobile users shopping via phone

Shoppers this holiday season aren't just researching and sharing product information via their mobile phones, they're making purchases, too.

PayPal has announced a whopping increase in mobile payments this festive season. In the month to December 15 the online payment processing company registered a 300% rise, compared to the same period last year.

This isn't the first record-breaking increase for PayPal's mobile payments this holiday season. Last month, the company announced a 310% increase in mobile shopping on Black Friday.

The company, which handles approximately 16.5% of all online transactions in the U.S., also saw a 27% rise in mobile payments on Black Friday alone, as shoppers become more comfortable with making purchases from their devices.

This rate of adoption is changing the face of shopping - both on- and offline.

According to PayPal's President of Platform, Mobile and New Ventures, Osama Bedier, within the next five years it will be commonplace for consumers to pay for purchases via their mobile phone.

By that time, stores on the High Street will have begun to incorporate technology to allow payments to be taken for offline purchases via mobile payments.